Markets
RBI shifts from supporting the economy as other major central banks raise rates
The Reserve Bank of India had abstained from hiking interest rates this year even as central banks in Japan, Indonesia and the Philippines did, as it remained focused on spurring economic growth. © Reuters
SOUMYAJIT SAHA
October 7, 2026 13:38 JST
Updated on October 7, 2026 14:44 JST
MUMBAI — The Reserve Bank of India on Wednesday raised its key interest rate by 25 basis points to 5.50%, kicking off the first cycle of rate hikes since February 2023, as inflation continues to accelerate beyond the central bank’s target level.
Source: asia.nikkei.com
